Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-21-2019, 12:42 PM
 
Location: East TN
11,103 posts, read 9,746,390 times
Reputation: 40483

Advertisements

Quote:
Originally Posted by LifeIsGood01 View Post
5
I was going to say 42.
Reply With Quote Quick reply to this message

 
Old 06-21-2019, 12:45 PM
 
Location: East TN
11,103 posts, read 9,746,390 times
Reputation: 40483
A s***-ton of people could qualify for a home at twice the price of their current home (me included), but why? Why would I want to pay twice as much for housing, and then have to skimp on travel and other niceties? I know a guy that buys a new Corvette every two years just because he can. I personally think it's the stupidest thing I've ever seen anyone do.
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 01:03 PM
 
Location: Eastern Washington
17,213 posts, read 57,047,755 times
Reputation: 18574
Quote:
Originally Posted by Berteau View Post
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you. What percentage of people that have money would you say are like that?

I guess I am like that. What do I care what the hoi-polloi think of my house? It suits me, provides enough room, has a good garage next to it where I can do my car work. It is not really a showy or "impressive" house, but it is worth at least 3X what I paid for it almost 30 years ago. I am satisfied with my house, it's economical to heat, we don't really need A/C. My friends like it. So again why would I care what "people", and particularly people from the other side of the bell curve in terms of IQ, "think" of my house?



Someone who stretches to by a McMansion in a "gated community" so as to demonstrate that they have "arrived" financially strikes me as noveau-riche, and gauche. To whom do they address this chest-beating exercise? Another gorilla?
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 01:25 PM
 
13,721 posts, read 19,249,721 times
Reputation: 16971
My parents always lived in a much more modest house than they could afford. They were never wealthy but definitely could have had a nice house and could have paid cash for it. But they always lived in "livable" houses, not necessarily nice. They always had land and they always had money in their bank account. I guess that was more important to them than a nice house. I'd rather have a nice house, less land, less money in the bank, but that's me.
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 01:26 PM
 
Location: Riverside Ca
22,146 posts, read 33,509,477 times
Reputation: 35437
Quote:
Originally Posted by Berteau View Post
I am curious to how many people are out there that don't want large, nice, expensive homes, but can afford them? I'm not necessarily talking mansions, but larger nice homes that just show that you have a lot of money. The ones you see in affluent suburbs and they wow you. What percentage of people that have money would you say are like that?
My house is a normal 2200 sq foot 4 bedroom single story three car garage on 1/2 acre. This is the first big house we ever bought. Everything else was 1100-1900 sq ft. It’s not a mansion but I like it just fine. I don’t need a big giant house to show off. In fact nobody including my family (other than my wife) know our true financial situation. I’m sure people can guesstimate as family members know we have rentals and invest but nobody has actual true figures. Which is just the way I like it. I do t really want to tell people my finances. It’s none of their business. Besides things like that breed envy and contempt.
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 01:29 PM
 
Location: Brew City
4,865 posts, read 4,175,525 times
Reputation: 6826
We could afford a lot more house if that's what you're asking. We didn't bother to include my income when we set our house budget and still came in under.

We like our small house (1200 sqft) in a great location.
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 01:29 PM
 
1,665 posts, read 973,674 times
Reputation: 3064
Maybe they don't want to shoe off their wealth? Nothing screams like a large, fancy house!

We joke about if we would win the lotto, we would live in a large, wooded parcel of land with a small house. But my shop would be twice the size of our house for my wood working and auto garage so I could rebuild cars!
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 02:08 PM
 
Location: PNW, CPSouth, JacksonHole, Southampton
3,734 posts, read 5,767,854 times
Reputation: 15103
MOST of the people I know, who own McMansions, live there only because they reside in "diverse" places, where owning an expensive home is what it takes to be safe from "Them". (Who "They" are, varies from place to place.)

The endless regulations regarding lawns and vehicles (and other things), are designed to discourage "Them" - even should they have a big lawsuit settlement, three fatter-than-usual disability checks, and drug-dealing/human-trafficking money on the side.

A recurring theme, is the male hetero surgeon, who lives in a five thousand square foot McMansion, in a metro where there's nobody worth knowing (I'm putting myself inside his mind, you understand...). The big money, for most docs, is in places with horrible climates and no natural scenery, largely populated by people whom nobody with options would choose to be around. Freestanding homes - huge, EXPENSIVE ones - tend to be the only viable options, in metros like that. He has a deluxe mattress set, and nice sheet sets/duvet covers/pillows/shams. One closet has some clothes - not many, though. Across from the bed, there's a TV. But now, with online erotica, there's zero clutter from DVDs or mags. His office has a desk, ONE chair, and a closet for storing papers/records. One corner of the predictably-vast "Dedicated Master Suite" will have workout equipment - not much, though, since he has gym/club memberships.

No matter what he looks like, an inexhaustible stream of women will give out free samples, in the hopes of catching him - because he's a surgeon. The very second one of them starts prissing around, talking about "doing something with" the house - becoming territorial and possessive and bossy - she gets kicked to the curb, and replaced. He LIKES the empty kitchen, the empty entertaining spaces, the four other bedrooms standing empty, the two empty bays in the garage, the second floor which does not see a human for months or years at a time. In his mind, the absence of superfluities, is part of "being a WINNER".

He sticks his income into investments, waiting for the day when he's rich enough to fly off to someplace where people are worth his time, or when he meets a girl who makes enough money to be human in his eyes (generally, another surgeon).

However, for now, the big house in the gated enclave, is what he has to have, to be able to sleep, whenever he gets to sleep, without being kept awake by the sound systems/stomping and door-slamming/"performance mufflers"/neglected dogs of people who probably should not even exist. When he was in residency, being worked nearly-to-death, noise made by problem people in cheap places, nearly KILLED him. He will pay whatever it takes, to be insulated from people like that.

And then there are all the other professionals - people who've been under pressure to study, study, STUDY - to play sports and do whatever other "extra-curriculars" are needed for getting into "good schools", and "being normal". When this has been your life, for as long as you can remember, you tend to regard EVERYTHING but achieving, as being not just expendable, but actually in your way.

Family is in your way. Friends are in your way. Furniture is in your way. All that sports equipment, crammed into both storage rooms off the garage, AND the 'Bonus Room', AND the floored part of the attic, required for the kids you didn't really want (but had to have, because it's "normal" and "expected") - is IN YOUR WAY. You grew up, under pressure to memorize impossible amounts of information/do your projects/play your sports (and if you weren't straight-'A'/four-sports, you were a LOSER, and an embarrassment to Mom and Dyaaaaaaaaaaad). There was not enough time. There was no time for any extra anything. You resented EVERYTHING distracting you from the grades you had to make, and the sports you had to play. Nothing mattered, beyond fulfilling those performance expectations. Now, still under pressure to "make Partner"/get that grant/fulfill the Continuing Education requirements/complete the project/prevail in the merger, you see family and friends and furnishings as things you cannot avoid having (because sometime you might have to USE them for something, and because you'd be "abnormal", without them), but which are really, mostly, just IN YOUR WAY.

A really big house, is actually necessary, for providing enough room for you to have some personal moments and personal space, amid people you don't particularly want, and volumes of STUFF you cannot avoid owning. (Just go inside "Dick's Sporting Goods" and remember that huge chunks of what you see in that store, end up in the homes of the hapless parents of the hapless children who're tacitly FORCED to use that stuff for their essentially-mandatory "activities").

My recurrent nightmares, from which I'm awakened when I start screaming, have shifted from dogs and snakes and encounters with groups of predatory "youths" and malfunctioning elevators in scary hospitals......... to crystal-clear, ulta-explicit-down-to-their-backstories visions of our children, ALL getting on one of my "Uncles"'jets - planes barely big enough to be considered 'Transatlantic Size' - and going down on the way to Ibiza. Sometimes, my husband has already been snuffed by competing interests. Sometimes, that's what's happening in the dream - with or without Babs being kidnapped. Sometimes, it's already happened, and she's dead. Always, there's some sort of "This time, it's not a dream. This time, it's REAL" narrative, presented in some form - explicit or implicit.

My dreams are telling me that I could end up ALL ALONE.

Currently, we have a Dordogne-style 'Mas' in the PNW (not intended as a 'chateau' or a 'castle - just an unassuming, bourgeois 'Mas') on seven levels, if you count the 'Souterrain' guest/staff levels following the ravine. The Aspen ranch has more bedrooms - but it's the typical "Logs & Molesworth" kind of thing - not our style, really, but where we see the friends we made, when we were young, and doing summer rentals in the Malibu Colony. The Manhattan place, really just an "au sein de la famille" hotel/timeshare, is only lived in by one of our Decorator's interns, who gets it back "Photoshoot-ready", between incursions by ourselves and my not-particularly-nice extended family (together, we own the corporation which holds the building). It's a big stage set - one floor of an old factory - done up in 'Hell's Kitchen Intellectual Quirky', but with more design resolution than is typical of NYC, since we're shallow Southerners, accustomed to higher aesthetic standards.

But if I were suddenly all alone? I could definitely go austere. In town, I'd have something tiny. I'd get the right people to vouch for me. I'd assign a team, to complete the ridiculous volume of disclosure paperwork. I'd actually DISCLOSE all that The Dakota wants us to disclose. And I'd take a tiny attic unit like this: https://streeteasy.com/building/the-dakota/97 - about the size of the garage apartment I dreamed of having, when I was dreaming of running away to college, and working, as one of the unseen ugly people, in the back of some big office, somewhere (those were BIG dreams, when I was a kid). But in the Dakota, I'd be around people like myself, and AWAY FROM people who threaten people like me. Even with "The Multiple" (money you have to park somewhere, to assure 'The Board' that you'll always have enough to pay all you have to pay), I could be in for well under ten - thrifty and austere, up there under the rafters.

If, for the beach, instead of building on Meadow Lane (https://www.google.com/maps/place/Me...!4d-72.4340207), as we're apparently going to have to do, to be around people who share our worldview....... if, tomorrow, 'We' became just 'I', I'd scale-back my needs, and contemplate whirling off into the looming vastness of infinity, from this vantage point: https://hamptons.curbed.com/2018/1/1...tons-price-cut

Once again, I'd be paying a premium, to be shielded from PEOPLE. But as for luxury and show? ....MNEH....
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 02:55 PM
 
Location: Seattle
1,651 posts, read 2,782,074 times
Reputation: 3026
We could own quite the property, but then we'd have to maintain it, update it, furnish it, heat/cool it, pay taxes on it, and what would the two of us do with all that? Neither of us accumulates much in the way of stuff, so even a 2 bedroom seems a bit much sometimes..

Instead we own our lovely, charming, perfectly located little place outright, and are saving and investing rather than sinking all our income into a house we frankly don't want or need. Our goal is to retire early. A big, expensive house would be nothing but a liability.
Reply With Quote Quick reply to this message
 
Old 06-21-2019, 02:58 PM
 
Location: Riverside Ca
22,146 posts, read 33,509,477 times
Reputation: 35437
Quote:
Originally Posted by DeanGuitarist View Post
Maybe they don't want to shoe off their wealth? Nothing screams like a large, fancy house!

We joke about if we would win the lotto, we would live in a large, wooded parcel of land with a small house. But my shop would be twice the size of our house for my wood working and auto garage so I could rebuild cars!
You and I seem to have the same “problem”
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top